Stonebridge Bank is headquartered in the state of Pennsylvania. Stonebridge Bank was established in 1999, but has grown to be one of the largest banks in the state of Pennsylvania and the nation.
A new concept in certificates of deposit has been created by Stonebridge Bank. Stonebridge Bank CDs are being delivered that have 14 month or 21 month maturities as an option for their customers. These two very special certificates of deposit are delivered to customers in the form of an IRA or Individual Retirement Account but only for a limited time. The minimum deposit is $500 for all Stonebridge Bank CDs including the 14 or 21 month maturity term.
One of the great things about this wonderful CD is the ability to purchase nationwide. Anyone from any state can purchase these CDs. Customers simply fund the CD either by check or wire transfer. Unfortunately, the option of ACH is not being provided. Stonebridge Bank CDs convey their interest compounded daily and credited monthly for each CD. Your CD rate is locked after the funds have been received.
If you need to close your CD at maturity, written verification must be made to Stonebridge bank. The customer written instructions should include detailed instructions for what procedure to follow with your funds. There is a grace period of 10 calendar days at each certificate of deposit maturity.
Early withdrawal of any CD does come with a penalty. The early withdrawal penalty for Stonebridge Bank certificate of deposits are 90 days of interest for CD terms that fall below 12 months and 180 days of interest for CD terms from 12 months to 36 months.
These are the current Certificate of Deposit terms and APY rates for Stonebridge Bank
Term Minimum Deposit APY *
6 months $500.00 0.85% APY
12 months $500.00 1.10% APY
14 months $500.00 1.15% APY * *
18 months $500.00 1.20% APY *
21 months $500.00 1.20% APY * *
24 months $500.00 1.35% APY
30 months $500.00 1.45% APY
36 months $500.00 1.55% APY
60 months $500.00 2.10% APY
**special CD for a limited time
The overall health rating of this particular lender is not outstanding compared to other banks of the same size and area. However, certificate of deposit accounts are covered by the FDIC (Federal Deposit Insurance Corporation) with Stonebridge Bank making your investment monies safe and secure up to the maximum amount allowed by law.